WASHINGTON: The State of Illinois on Monday (Friday in Manila) announced it was suspending as much as $30 billion in investment activity with the embattled California lender Wells Fargo over the bank’s fraudulent sales practices.
It was the second state in a week to suspend some ties with the bank, after Californian authorities announced Wednesday they were halting certain business relations with Wells Fargo for a year, including lucrative municipal bond underwriting.
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